Loop Energy and H2 Portable Power (H2P) have announced a merger transaction to deliver hydrogen-enabled equipment to customers, backed by a $15m private placement.
The agreement is a three-cornered amalgamation pursuant to which H2P will amalgamate with a subsidiary of Loop, while Loop will acquire all of the issued and outstanding common shares of H2P, and H2P shareholders will receive common shares of Loop.
The merger will combine Loop’s hydrogen fuel cell technology with H2P’s expertise in industrial equipment and therefore transition customers to zero-emission solutions.
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